Do you really know how much you are paying for energy?

Business energy rates increase every year, and most of us simply accept the increases. Most brokers will tell you how it is, just the state of the market currently (with wholesale rates rising). They will assure you that you have got the best deal around and sign you on for another extension.

Business owners tend to take this at face value, but how much of what your broker is telling you is the truth? You may be in for a shock.

Energy brokers and consultants, known as third-party intermediaries (TPIs) help businesses by offering a range of gas and electricity contracts from energy suppliers. They should, in theory, always act in the best interests of their client, your business.

However, many brokers make deceptive statements about how they are paid and why they are recommending certain suppliers. A broker will usually be acting with their own financial motives in mind, not trying to save you money. It’s also likely they are being paid a hidden commission which is added onto your bill each month, without informing you how or why. This is mis-selling.